LME stocks fell: copper down 3,375 t, aluminium down 1,500 t, zinc down 775 t, lead down 450 t, nickel down 372 t, tin down 40 t.

The Financial Times reports the Royal Navy will order at least six general-purpose combat vessels able to deploy unmanned air and undersea systems, a plan due to be announced this week. The ships, intended as part of the Type 45 destroyer replacement, will be the navy's first hybrid-powered warships and are expected to enter service in the early 2030s. The Labour government is set to abandon a long‑planned eight-ship Type 83 destroyer programme and cancel the five-ship Type 32 frigate programme first announced in 2020 in favour of the new general-purpose vessels. The defence secretary’s final plan is expected to add at least £1bn to defence spending, raising new defence investment by more than £14.5bn versus earlier plans. Government says the vessels will act as unmanned-systems control hubs, extending operational reach and firepower without a proportionate increase in crew or cost.

Spot gold fell more than 1.0% intraday to $4,040.47/oz.